COMPANY NEWS

COMPANY NEWS; INTERPUBLIC GROUP PLANS STOCK SALE TO PAY OFF DEBT

Published: December 10, 2003

The Interpublic Group of Companies, the global advertising company, plans to raise $650 million by selling common stock and convertible preferred shares to pay off debts due next year. Part of the proceeds will be used to redeem $240 million of the company's 1.8 percent convertible subordinated notes due in 2004, Interpublic said. Interpublic, creator of the ''Got Milk?'' advertising campaign, had a third-quarter net loss of $327.1 million and said last week that it would pay $115 million to settle lawsuits brought by shareholders who claimed they were misled by false financial statements. Interpublic is based in New York.